According to information released by Glassnode, the amount of Ethereum last active two to three years ago has just hit a nine-month high of 16,884,718 ETH. This represents about 14.7% of the total supply of 114.759 million ETH that is in circulation. The dormant Ethereum is valued at $32.553 billion at ETH’s current value of $1,928.
The fact that this quantity of Ethereum hasn’t moved for such a long time demonstrates that ETH investors are especially bullish regarding the long-term future of the digital asset and its network.
Regarding the price, ETH just hit a new ATH of $2,042 on Binance. At the same time, Bitcoin has reached a new ATH itself of $57,717. Both cryptos have dealt with pullbacks, which means that ETH has now fallen at the $1,800 support zone.
But Ethereum has many bullish reasons to keep growing. For example, Grayscale continues to buy Ethereum, having bought 223,161 ETH ($430 million) over the previous 30 days. Celebrities such as Gene Simmons have also announced they’ve purchased ETH. At the same time, ETH 2.0 staking is going with 3.174 million Ethereum locked in the deposit contract.